1) The document discusses the 2008 global financial crisis, known as the "Meltdown". It describes how the bankruptcy of Lehman Brothers triggered a series of other bank failures. 2) Hank Paulson, the former CEO of Goldman Sachs and later an economic advisor, refused to bail out Lehman Brothers, which had major repercussions around the world. 3) Markets around the globe crashed as the crisis spread from the US to Europe, resulting in protests, industrial action, and pension losses as the economic collapse deepened.

1. ASSIGNMENT OF INVESTMENT AND PORTFOLIO
Submitted To: Sir Irfan Javed
Submitted By: Naqash Arshad (FA11-BBA-010)
COMSATS Institute of Information Technology Vehari Campus
ASSIGNMENT 3
APRIL 30, 2015

2. NAQASH ARSHAD
FA11-BBA-010
Meltdown Part 2
Meltdown is basically secret history ofglobalfinancial collapse.In which the one oflargest bank Lehman Brothers
goes to bankruptcy in movie, it is said that it’s the biggest after the 9/11 attackand all the big markets are attached
to Lehman brothers and they also fell like Paris, London and Shanghaisuspendedthe trading.World biggest banks
start to accept the collateral from each other. Next Morning at 10:50 am George W Bush called the emergency
meeting. The US financial advisor Hank Paulson said to the George w bush that the US is on the edge of the
Meltdown. If we can’t tact boldly we can go to the deeper depression than the great depression. A defector
executive who nearly destroyed the global financial system and the US treasury secretary who bailed out his
friends. Henry 'Hank' Paulson, the former CEO of Goldman Sachs and later an economic advisor to the US
government; refused to bail out global financial services firm - the Lehman Brothers. Paulson said it was not the
role of government to save private businesses. The Hank Paulson proposed the government the bailout package
but US senate doesn’t approved that. Lehman’s failure had repercussions around the world. After the Lehman
brothers the AIG group goes to bankruptcy and then the General Electric Millions of people lost their life savings.
Pension plans were decimated. Christine Lagarde, the French finance minister at the time and a close friend of
Paulson's, publicly described Paulson's decision on Lehman "terrible”. Markets from London and Paris to
Shanghai and Abu Dhabi have the impact all markets are crashed and caused the whole world's . A major banks
to stop lending, ending the year in protests and industrial action. The economic collapse of 2008 quickly spread
to Euro and there are strikes against bankers and politician. Protest initially start by formers and then quickly
spread by civil workers. On October 4 2008 European leader took place a meeting, France leader proposed
European rescue fund Germany leader proposed to do nothing bailout with any other country financial problems.
On first week of October 2008 world finance ministers share a meeting with hank Paulson in America. The
reaction of European is not good UK and French banks not to be sure to open on Monday, leverage is 1 to 30 or
1 to 40.Former Canadian prime minister Paul Martin said world leaders were struggling how the game of
international financial changed. The melt down was financial loss for major banks.